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LabCorp (LH) Gains But Lags Market: What You Should Know
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LabCorp (LH - Free Report) closed at $271.14 in the latest trading session, marking a +1.5% move from the prior day. This change lagged the S&P 500's 1.61% gain on the day. Elsewhere, the Dow gained 1.45%, while the tech-heavy Nasdaq added 0.36%.
Coming into today, shares of the medical laboratory operator had lost 3.45% in the past month. In that same time, the Medical sector lost 0.95%, while the S&P 500 lost 1.42%.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release, which is expected to be April 28, 2022. In that report, analysts expect LabCorp to post earnings of $5.88 per share. This would mark a year-over-year decline of 33.11%. Our most recent consensus estimate is calling for quarterly revenue of $4.04 billion, down 2.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.42 per share and revenue of $15.43 billion, which would represent changes of -31.91% and -4.31%, respectively, from the prior year.
Any recent changes to analyst estimates for LabCorp should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. LabCorp currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that LabCorp has a Forward P/E ratio of 13.76 right now. This represents a discount compared to its industry's average Forward P/E of 20.29.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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LabCorp (LH) Gains But Lags Market: What You Should Know
LabCorp (LH - Free Report) closed at $271.14 in the latest trading session, marking a +1.5% move from the prior day. This change lagged the S&P 500's 1.61% gain on the day. Elsewhere, the Dow gained 1.45%, while the tech-heavy Nasdaq added 0.36%.
Coming into today, shares of the medical laboratory operator had lost 3.45% in the past month. In that same time, the Medical sector lost 0.95%, while the S&P 500 lost 1.42%.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release, which is expected to be April 28, 2022. In that report, analysts expect LabCorp to post earnings of $5.88 per share. This would mark a year-over-year decline of 33.11%. Our most recent consensus estimate is calling for quarterly revenue of $4.04 billion, down 2.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.42 per share and revenue of $15.43 billion, which would represent changes of -31.91% and -4.31%, respectively, from the prior year.
Any recent changes to analyst estimates for LabCorp should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. LabCorp currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that LabCorp has a Forward P/E ratio of 13.76 right now. This represents a discount compared to its industry's average Forward P/E of 20.29.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.